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The North America IOT managed services market was valued at $XX million in 2018, and it is projected to capture $XX million revenue by 2027, growing at a CAGR of 23.87% during the forecast period of 2019-2027. The federal government initiatives to reduce healthcare expenses and the facilities for remote patient monitoring are necessarily implementing the application of IoT managed services in the region.
The market is segmented on the basis of organization size, end-users and services. The North American market is majorly driven by its outstanding start-up culture, innovations in technologies and sufficient government support for investment risks. However, the possibility of data loss due to vulnerable security in the region is a constant threat to the IOT market. The United States and Canada are considered for the market study. The US has a significant contribution to this market due to the increased partnerships between network operators, device makers and platform providers. Also, the rapid advances in technology and changing consumer preferences over the possession of electronic devices are some of the major factors contributing to the high demand for the connected smart devices in the USA.
The contending establishments in North America for the market include Honeywell International Inc., International Business Machines Corporation (IBM Corp.), Huawei Technologies, Hewlett Packard Enterprise, Tata Consultancy Services, Qualcomm Incorporated, Accenture PLC, Infosys, Cisco Systems Inc., Intel Corporation, Microsoft Corporation, Samsung Corporation and Alphabet Inc.